The Careers/Jobs thread

[AndyM3000]

7 hours ago, Lichfield Dean said:

So... Stay at a large company with good benefits that isn't a very fun position and shows little sign of career progression, or jump to a smaller startup that is going places (for similar salary) and grow with that? There is a risk and I have no way to accurately assess the future in either role.

How many people do you meet that say "I wish I never left that job". Most people move onto better things, even if this doesn't work out down the road it could potentially lead to something else anyway.

If you have a family to support, debt to pay then there's certainly things to consider. You'll likely already know what you want to do but its masked by fear/comfort of current job but go with your gut, it's usually right.

[Stevo985]

Massively considering packing the rat race in and going into property on my own

[Genie]

Just now, Stevo985 said:

Massively considering packing the rat race in and going into property on my own

Make sure you close the door behind you  

[Mandy Lifeboats]

2 hours ago, Stevo985 said:

Massively considering packing the rat race in and going into property on my own

Burglary can be well paid but the hours are rubbish. 

[blandy]

10 minutes ago, Mandy Lifeboats said:

Burglary can be well paid but the hours are rubbish. 

And you get the sack

[Stevo985]

@Genie remind me, are you contracting at your employer? or did you used to be a contractor?

[Genie]

Just now, Stevo985 said:

@Genie remind me, are you contracting at your employer? or did you used to be a contractor?

I used to be but have been permie for about 12 years.

Edited July 13, 2022 by Genie

[Stevo985]

7 minutes ago, Genie said:

I used to be but have been permie for about 12 years.

Did you do it where you essentially set yourself up as a company and did it that way?

Just wondering how hard it is and what the drawbacks are.

Seen a couple of roles online that i could do that are paying silly money but as a contractor so assessing my options

[Genie]

15 minutes ago, Stevo985 said:

Did you do it where you essentially set yourself up as a company and did it that way?

Just wondering how hard it is and what the drawbacks are.

Seen a couple of roles online that i could do that are paying silly money but as a contractor so assessing my options

The most important thing to consider is IR35 status. If your contract is “outside of IR35” then you will have the ability to pay yourself a minimum wage and then the rest as dividends (much less tax). If it’s not then you will need to pay full tax as any employee would (maybe more tax if you’re both an employee and the director i’m not 100%).

When i was doing it I was only getting stopped about 15% of my total gross earnings which is amazing but times have changed a lot since then. There has been a big clamp down on people who are masquerading as employees but on a self employed contract. The criteria is mainly centred around things like whether you have to work set hours for the company you are contracted to. The accountant can help with this.

Getting setup is quite easy. You just need a business bank account and an accountant. The accountant will create you a business in 5 minutes and register it with companies house etc.

Its quite easy to setup tbh and you can make good money and have lots of flexibility. As you only pay tax once a year, and it’s within 9 months of the tax being submitted I think you can use money reserved for the tax bill to generate interest or make money another way.

[Stevo985]

19 minutes ago, Genie said:

The most important thing to consider is IR35 status. If your contract is “outside of IR35” then you will have the ability to pay yourself a minimum wage and then the rest as dividends (much less tax). If it’s not then you will need to pay full tax as any employee would (maybe more tax if you’re both an employee and the director i’m not 100%).

When i was doing it I was only getting stopped about 15% of my total gross earnings which is amazing but times have changed a lot since then. There has been a big clamp down on people who are masquerading as employees but on a self employed contract. The criteria is mainly centred around things like whether you have to work set hours for the company you are contracted to. The accountant can help with this.

Getting setup is quite easy. You just need a business bank account and an accountant. The accountant will create you a business in 5 minutes and register it with companies house etc.

Its quite easy to setup tbh and you can make good money and have lots of flexibility. As you only pay tax once a year, and it’s within 9 months of the tax being submitted I think you can use money reserved for the tax bill to generate interest or make money another way.

Cheers mate, good to know.

I'm looking at options, contract roles as a data analyst which is my bread and butter seem pretty attractive. Plenty of downsides with the contracts being temporary and short term but the money might make it worth exploring

[Seat68]

5 minutes ago, Stevo985 said:

Cheers mate, good to know.

I'm looking at options, contract roles as a data analyst which is my bread and butter seem pretty attractive. Plenty of downsides with the contracts being temporary and short term but the money might make it worth exploring

I get the feeling @Davkauscan also offer insight. 

[Stevo985]

30 minutes ago, Genie said:

The most important thing to consider is IR35 status. If your contract is “outside of IR35” then you will have the ability to pay yourself a minimum wage and then the rest as dividends (much less tax). If it’s not then you will need to pay full tax as any employee would (maybe more tax if you’re both an employee and the director i’m not 100%).

When i was doing it I was only getting stopped about 15% of my total gross earnings which is amazing but times have changed a lot since then. There has been a big clamp down on people who are masquerading as employees but on a self employed contract. The criteria is mainly centred around things like whether you have to work set hours for the company you are contracted to. The accountant can help with this.

Getting setup is quite easy. You just need a business bank account and an accountant. The accountant will create you a business in 5 minutes and register it with companies house etc.

Its quite easy to setup tbh and you can make good money and have lots of flexibility. As you only pay tax once a year, and it’s within 9 months of the tax being submitted I think you can use money reserved for the tax bill to generate interest or make money another way.

Out of interest, how much does an accountant set you back for this kind of thing?

[Genie]

4 minutes ago, Stevo985 said:

Out of interest, how much does an accountant set you back for this kind of thing?

It was a few hundred pounds a year but I think it’s tax deductible so doesn’t really matter.

Once a year i’d send him a box with all my invoices, payments received and expenses. He’d then calculate my tax and submit the tax return. I had about 9 months I think to pay it.

Bit different now as everything is online so you just pass him a disc, USB drive or email it all.

 

Edited July 13, 2022 by Genie

[Sam-AVFC]

I know a few people who have gone down the consulting route, @Stevo985. To a man they preach it was the best thing they ever did - some have been taking jobs pretty much constantly and earning a load more, while others went down the 6 months on, 6 months off route and have become the most smug, insufferable bastards ever.

[Rds1983]

21 hours ago, Stevo985 said:

Cheers mate, good to know.

I'm looking at options, contract roles as a data analyst which is my bread and butter seem pretty attractive. Plenty of downsides with the contracts being temporary and short term but the money might make it worth exploring

For some reason I thought you did Procurement/Buying? 

If you do become a consultant make sure you put money aside to cover anything you lose by being permanent (Sick pay, pension schemes or job security etc).

Also, what's your PowerPoint game like? Will need to be spot on if you want to be a consultant. 

[Stevo985]

1 hour ago, Rds1983 said:

For some reason I thought you did Procurement/Buying? 

If you do become a consultant make sure you put money aside to cover anything you lose by being permanent (Sick pay, pension schemes or job security etc).

Also, what's your PowerPoint game like? Will need to be spot on if you want to be a consultant. 

I do procurement at the moment, but my background is finance/analytics. Qualified as an accountant, then moved into data analytics. I only moved into procurement because the department at this company that I'm at now, where I joined to lead the analytics team, is supply chain so I wanted to do a procurement role in order to move up in the company.

Which is going well, don't get me wrong. Got promoted last year. But It's just not what I want to do.

The roles I'm looking at are contracting roles for data analytics. Some of the stuff advertised is a bit above my ability, but a lot of it I could do and the money is crazy good, so it would be a good option to do short term while I decide what I want to do with my life.

 

Believe me, working in analytics but having to present that data to dinosaurs that don't appreciate data means that my powerpoint game is tip top

[Genie]

It looks like we’re going to get the pre-agreed last year pay award of RPI +0.5%.

Sounds great, I hope they can afford it.

[tinker]

14 hours ago, Genie said:

It looks like we’re going to get the pre-agreed last year pay award of RPI +0.5%.

Sounds great, I hope they can afford it.

They will have to put their prices up or have they already? Another answer is to use contract labour or have different contracts for new employees, if they can get them for a lower wage. 

Brick layers on £800 and plumbers on £500 a day. The skilled trade day rates are soaring ATM.

Why?

COVID affect, We have had over 50% of our work force retire early since the lock downs , these are workers who have been 55-63 years old, high DB pension valuations ,CETV and the experience of lockdowns, doing nothing, being an introduction to retirement.

Brexit, has reduced the amount of East European skilled trades that are in the UK economy.

With wages like these inflation is going to rocket , if a bricklayer is pulling £200k a year he's buying a big house. The age of big earners being computer based is over for now, getting your hands dirty is where the money is ATM. 

[A'Villan]

Sorry VT. Better avenues for counselling on this subject. 

Edited August 24, 2022 by A'Villan

[Rodders]

Had a job interview at 1pm, offered the job at 3pm. Excellent news. A secondment, much needed as so bored and unmotivated in my current role. Slightly annoyed I was a bit unambitious, as I went for a band 4 role and found out a newer colleague had gone for the band 5 and got it. I hadn't bothered as I kept getting nope "someone has more experience" for the past few band 5 interviews I've had. Still, that'll teach me.